President Jon Cartu Announced - Arista Networks Inc (NYSE:ANET) Director Sells $306,421.60... - Jonathan Cartu Computer Repair Consultant Services
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President Jon Cartu Announced – Arista Networks Inc (NYSE:ANET) Director Sells $306,421.60…

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President Jon Cartu Announced – Arista Networks Inc (NYSE:ANET) Director Sells $306,421.60…


Arista Networks Inc (NYSE:ANET) Director Nikos Theodosopoulos sold 1,360 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $225.31, for a total transaction of $306,421.60. Following the completion of the sale, the director now owns 4,630 shares in the company, valued at $1,043,185.30. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of NYSE ANET traded down $3.88 during mid-day trading on Friday, reaching $223.40. The company had a trading volume of 781,500 shares, compared to its average volume of 926,154. The company has a current ratio of 5.77, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $254.48 and a two-hundred day simple moving average of $270.67. The stock has a market cap of $17.35 billion, a P/E ratio of 31.60, a PEG ratio of 1.32 and a beta of 1.58. Arista Networks Inc has a 52-week low of $187.08 and a 52-week high of $331.27.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.46. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The company had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. During the same period last year, the firm posted $1.93 EPS. Arista Networks’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts expect that Arista Networks Inc will post 8.67 EPS for the current year.

A number of institutional investors have recently modified their holdings of ANET. Lenox Wealth Management Inc. purchased a new position in Arista Networks during the 1st quarter worth $26,000. Gradient Investments LLC purchased a new position in Arista Networks during the 2nd quarter worth $37,000. Golden State Wealth Management LLC purchased a new position in Arista Networks during the 2nd quarter worth $41,000. Financial Management Professionals Inc. grew its position in Arista Networks by 548.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock worth $42,000 after purchasing an additional 137 shares during the last quarter. Finally, Whittier Trust Co. purchased a new position in Arista Networks during the 1st quarter worth $44,000. 60.28% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on ANET. JMP Securities restated an “outperform” rating and issued a $280.00 price objective (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price objective on the stock in a report on Monday, July 8th. Credit Suisse Group raised their price objective on shares of Arista Networks from $317.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Wolfe Research upgraded shares of Arista Networks from an “underperform” rating to a “peer perform” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus dropped their target price on shares of Arista Networks from $294.00 to $287.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $308.78.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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